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Key regions: India, Nigeria, Vietnam, Australia, United Kingdom
The Bottled Water market in Greece has experienced significant growth in recent years. Customer preferences have shifted towards healthier beverage options, leading to increased demand for bottled water. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market.
Customer preferences: In Greece, customer preferences have shifted towards healthier beverage options, and bottled water has become a popular choice. Consumers are becoming more health-conscious and are looking for alternatives to sugary drinks. Bottled water provides a convenient and refreshing option for hydration without the added calories or artificial ingredients found in other beverages. As a result, the demand for bottled water has increased significantly in Greece.
Trends in the market: One of the key trends in the Bottled Water market in Greece is the rise of flavored and functional waters. Consumers are seeking variety and are willing to pay a premium for enhanced water products that offer additional benefits such as vitamins, minerals, or natural flavors. This trend has led to the introduction of a wide range of flavored and functional waters in the market, catering to different consumer preferences and needs. Another trend in the market is the growing popularity of premium and luxury bottled water brands. Greek consumers are increasingly willing to pay more for high-quality water sourced from pristine locations or with unique characteristics. These premium brands often emphasize the purity and naturalness of their water, appealing to consumers who value authenticity and sustainability.
Local special circumstances: Greece is known for its hot climate, making bottled water a necessity for many residents and tourists. The availability and convenience of bottled water make it an essential product for staying hydrated in the country's warm weather. Additionally, Greece has a strong tourism industry, attracting millions of visitors each year. Tourists often prefer bottled water over tap water due to concerns about water quality and safety, further driving the demand for bottled water in the country.
Underlying macroeconomic factors: The Bottled Water market in Greece has also been influenced by underlying macroeconomic factors. The country has experienced economic challenges in recent years, leading to changes in consumer spending habits. As consumers become more price-conscious, they are more likely to choose affordable and accessible products like bottled water. The relatively low cost of bottled water compared to other beverages makes it an attractive option for consumers on a budget. Furthermore, the COVID-19 pandemic has had an impact on the Bottled Water market in Greece. The pandemic has heightened concerns about hygiene and cleanliness, leading to an increased preference for packaged products like bottled water. Consumers are more likely to choose bottled water over tap water to minimize the risk of contamination. In conclusion, the Bottled Water market in Greece has seen significant growth due to shifting customer preferences towards healthier options, the introduction of flavored and functional waters, the popularity of premium brands, local special circumstances such as the country's hot climate and tourism industry, and underlying macroeconomic factors such as economic challenges and the COVID-19 pandemic.
Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.
Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.
Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)